- Japan owned cryptocurrency exchange Rakuten Wallet, today officially announced that it has launched a Margin Trading App to its client base.
- The launch offers leverage up to 2X to the traders taking margin calls.
- Rakuten Wallet announced on twitter for its launch that pre-registering to this app will offer 500 points for one week until the entry deadline.
Japan owned cryptocurrency exchange Rakuten Wallet, today officially announced that it has launched a Margin Trading App to its client base.
With the aim to roll out the new services, Rakuten Wallet started the registration process from March 02, 2020. In August 2019, Rauketen entered the digital currency market with Rakuten Wallet.
Primarily, the exchange-traded with only three prime currencies, Bitcoin, Ethereum and Bitcoin Cash. With the margin services, the exchange will attribute two new Cryptocurrencies, Litecoin, and Ripple.
This means the traders are set to play with these following pairs- BTC/JPY, ETH/JPY, BCH/JPY, LTC/JPY, and XRP/JPY.
The launch offers leverage up to 2X to the traders taking margin calls. The decision was taken by the Financial Service Agency (FSA), to limit the leverage of crypto margin trading from 4X to 2X.
With the means of volume, Japan is ranked as the largest crypto market in terms of trade volumes. The FSA also mandated licensing of digital asset exchanges to keep a hold in the market.
How to start trading in the Margin Trading App
To start trading in Margin Trading App one has to go through below-mentioned step by step process
- The trader has to open a trading account as well as a Rakuten Bank account is necessary to open a leverage account.
- Opening a Rakuten Bank account requires at least 2 weeks while opening a Rakuten Wallet account requires a minimum of 1 day.
- After registration, the trader earns advance registration leverage of 500 points. Finally, the trader can start trading in this exclusive platform.
The Company offers registration with a First Class Financial Instruments Business Operator based on the revised Financial Instruments and Exchange Act.
— 楽天ウォレット (@Rakuten_Wallet) March 19, 2020
Rakuten Wallet announced on twitter for its launch that pre-registering to this app will offer 500 points for one week until the entry deadline. The entry and registration are until 25 March 2020.